i make all my payments on time. so can i call the company up (GE money bank - yamaha) and tell them to lower the rate to like 12%? I mean i know you can refinance your home but what about these kinds of loans?...
2007-01-10 12:16:33 · 4 answers · asked by ? 1 in Business & Finance ➔ Credit
Have you tried searching on the net. There are a lot of lenders advertising here and you may find one that suits your circumstances. You might be looking at a consolidation loan.
2007-01-10 13:34:26 · answer #1 · answered by SEO 3 · 0⤊ 0⤋
It's very hard to get a recreational vehicle loan - you have to have pretty good credit - and generally the interest is high. Rec vehicle's are depreciating in value - so it's hard to get a good loan on them. See how much you owe on the loan and try to get a unsecured loan or loan against another asset you may have. Or even try to get a lower rate credit card or one that has no interest for balance transfers. Your Yamaha credit is like a credit card so it should qualify as a balance transfer. If that's not an option then try to get the rec veh. loan. Hope this helps!
2007-01-10 12:29:39 · answer #2 · answered by amy23 3 · 0⤊ 0⤋
Its possible to refinance anything. That said, the majority of vehicle loans in the US are for more than the current value of the vehicle. Lenders will generally not loan more than the vehicle is currently worth. I once refinanced a car and actually got cash out. Not many people actually have equity in vehicles these days.
2007-01-10 13:00:53 · answer #3 · answered by STEVEN F 7 · 0⤊ 1⤋
Depends on your credit history,the longer you have with no problems the cheaper the rate you get charged.You might talk to a local credit union and see if they would give you a loan to pay off that high rate.Good luck
2007-01-10 12:27:33 · answer #4 · answered by sasyone 5 · 0⤊ 0⤋